Amount received under lic jeevan arogya policy
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 June 2013
Please clarify whether amount received under LIC's Jeevan Arogya Policy is taxable. In this case, amount received is Rs.600,000; premium paid for 2 years is Rs.30,000; actual hospital expenditure is only Rs.85000.
I'm afraid, this query is NOT resolved. While I am quite aware that premium paid is deductible u/s 80D, my query is about taxability of amount RECEIVED under the policy.
Please clarify
I'm afraid, this query is NOT resolved. While I am quite aware that premium paid is deductible u/s 80D, my query is about taxability of amount RECEIVED under the policy.
Please clarify
17 June 2013
This plan offers tax benefits for the premiums as a deduction from the taxable income under section 80D of the Income Tax Act.
17 June 2013
Agree with Sanket
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